Friday, August 14, 2009

Technical view 140809

MCX Gold : Gold traded sideways with little gains as indicated yersterday , we Still hold same view till time its trading below 15050 , it remains Same Sell on sell rise, Immediate Reistance to gold is Seen at 14980 & 15050 . A Closing above Same Would reverse the trend
Trend Analysis : Range bound ^ Sideways

Comex Gold : Currently trading Near crucial level of 955 $ , abv 962 Would make intraday bias as neutral and above 972 $ would change The trend to Postive. till than Sell on Rise For Possible lower targets of 920 $
Trend Analysis : Range bound

MCX Silver : Silver moved up above the crucial Resistance of 23980, a Breach below Same Would Indicate that bias has turned netural for the Day and shorts Can be attempted For Downside targets of 23300
Trend Analysis : Neutral to bearish

Comex silver : Silver Crossed crucial reistance of 1500 , but is findind it diffuclt to move the past the next intermediate resitance of 1532, a Breach below 1488 would again open Downside targets til l1430
Trend Analysis : neutral to bearish

MCX Crudeoil : Last Day For teh August Contract Expecting volatility and range bound trade between 3368--3442 on upside

NYMEX Crudeoil : Crude Re tested the Recent Resistance of 7346and failled to Cross again , and Falling down to 7200 levels, Making it a Case of triple top If closes Below 69.45$. Supports seen at 7225--7185--7046. A Close 7346 Would open trgts til 7680 7990
Trend Analysis : Sideways to upside

MCX Natural gas : As Indiacted yesterday that trend is down adn could further see Selling pressure if breaks 168, NG closed below the crucial Support of 168 opening downside trgts till 154. A retest of Resiatnce at 168 Cant Be rulled out
Trend analysis : Downward

Natural Gas : NG has been Trading inside a parallel Range Since last few Days , Break on any Side Could give a Fresh Move on any side , On upside 4.200 is very Importnat Reistance a Close above Same would Mean that the trend has Reversed and Now its Buy on Dips opening as upside trgt of 5.40$ and 7$ For Medium term As If Now . On Downisde Supports are near 3.882$--3.460--3.165$ , A close below 3.165 % would Mean that the correction is still on and Could try hit the new Possible Downside trgt of 2.41$

Base Metals

Commdity S1 S2 R1 R2 Pivot
Copper 306 304 310 313 306
Nickel 992 998 1014 1028 1007
LEad 90 90.1 91.85 92.4 91.85
Zinc 90.25 90.8 91.65 92 91.25